311-313 W Baltimore St 20 Unit Apartment Building $4,350,000 ($217,500/Unit) 7.77% Cap Rate Baltimore, MD 21201

Downtown Baltimore hotspot just steps to CFG Bank Arena, Lexington Market, and UMD’s graduate schools—creating a great need for housing.
Tenants pay electric and water, with additional revenue from 11 garage parking spaces and 11 storage units—maximizing income.
Full-gut 2015 renovation with 18’ ceilings, exposed brick, and high-end finishes—minimizing cap ex exposure.
Lead-Free Certification simplifies compliance, reduces turnover costs, and lowers liability exposure for ownership.
West Baltimore Interiors:
Taken from a page out of New York or D.C., 311 West Baltimore Street brings industrial elegance and high-end construction to the heart of Downtown Baltimore. With exposed brick, soaring ceilings, and a full-gut renovation completed in 2015, this five-story mixed-use building offers investors a rare combination of design, durability, and location—just steps from CFG Bank Arena, Lexington Market, and the University of Maryland’s professional schools.
Renovated from the studs, the apartments were built with both aesthetics and longevity in mind. Behind the dramatic 18-foot ceilings, exposed rafters, and hardwood flooring are durable finishes and modern layouts that appeal to long-term tenants. Each unit features real wood cabinetry, granite countertops, and full appliance packages—including 30” electric ranges, French door refrigerators, dishwashers, built-in microwaves, and in-unit laundry. Bathrooms are finished with ceramic tile flooring and surrounds, modern vanities, and both a Jacuzzi soaking tub and a separate walk-in shower. Two-bedroom units include a second full bath.
Utilities and Building Systems:
Each residential unit is equipped with its own electric heat pump, central air conditioning, and a 47-gallon electric water heater. Plumbing was fully upgraded during the 2015 renovation with modern CPVC supply lines and PVC drain lines, and the building is fully sprinklered for fire safety. The two commercial suites share a separate 6-gallon water heater for handwashing sinks. Tenants pay their own electric directly to BGE, while water is billed back based on occupancy. A passenger elevator adds tenant appeal, while two interior stairwells provide additional egress. The building is certified lead-free, significantly reducing liability, eliminating the need for dust wipe testing at turnover, and streamlining compliance. ADA-friendly features include a ramped main entry and elevator access to floors 1 through 5. Eleven indoor garage parking spaces and eleven secure storage units generate additional monthly income and enhance leasing appeal.
Why Invest in Downtown Baltimore:
311 West Baltimore Street sits at the heart of Downtown Baltimore’s resurgence. Just half a block from the fully redeveloped CFG Bank Arena—a $250 million private investment that’s reactivated the city’s entertainment scene—the property also lies 2.5 blocks from the brand-new Lexington Market, the historic Hippodrome Theatre, and the University of Maryland’s downtown campus. The University includes seven professional schools—medicine, pharmacy, dentistry, and more—none of which offer on-campus housing, creating ongoing demand for nearby rental housing.
Further highlighting the area’s momentum, the adjacent lot is slated for 325 West, a proposed 32-story mixed-use high-rise that will include apartment units, an eight-level parking garage, and a full suite of amenities—from a rooftop pool deck to LEED-certified green building systems. With active cultural anchors like the Bromo Seltzer Arts Tower, Everyman Theatre, and the Hippodrome just blocks away, this pocket of the city is experiencing a surge in both private and public investment—positioning 311 West Baltimore as a rare opportunity to own in a true growth corridor.